Question 1
Case 5-33 Break-Evens for Individual Products in a Multiproduct Company [LO6, LO9] Jasmine Park encountered her boss, Rick Gompers, at the pop machine in the lobby. Rick is the vice president of marketing at Down South Lures Corporation. Jasmine was puzzled by some calculations she had been doing, so she asked him: Jasmine: ?Rick, I'm not sure how to go about answering the questions that came up at the meeting with the president yesterday.? Rick: ?What's the problem?? Jasmine: ?The president wanted to know the break even for each of the company's products, but I am having trouble figuring them out.? Rick: ?I'm sure you can handle it, Jasmine. And, by the way, I need your analysis on my desk tomorrow morning at 8:00 A.M. sharp so I can look at it before the follow-up meeting at 9:00.? Down South Lures makes three fishing lures in its manufacturing facility in Alabama. Data concerning these products appear below. Total fixed expenses for the entire company are $282,000 per year. All three products are sold in highly competitive markets, so the company is unable to raise its prices without losing unacceptable numbers of customers. The company has no work in process or finished goods inventories due to an extremely effective lean manufacturing system. Required: 1. What is the company's overall break-even point in total sales dollars? 2. Of the total fixed costs of $282,000, $18,000 could be avoided if the Frog lure product were dropped, $96,000 if the Minnow lure product were dropped, and $60,000 if the Worm lure product were dropped. The remaining fixed expenses of $108,000 consist of common fixed costs such as administrative salaries and rent on the factory building that could be avoided only by going out of business entirely. a. What is the break-even point in units for each product? b. If the company sells exactly the break-even quantity of each product, what will be the overall profit of the company? Explain this result. Is there any solution for this?,Please see the attached document from the publisher. See the answer for 5-33.
Question 2
Analysis of Business Ethics Directions: Write a five (5) page paper on Business Ethics which addresses one of the fact patterns shown below. You should state a conclusion, support your conclusion with facts, use ethical analysis in supporting your conclusion, anticipate the counterargument, and rebut the counterargument. Topics: You are the officer of a company that is dumping waste pursuant to a valid EPA permit. Your company discovers that the waste could still be harmful. Discuss the ethical consideration of providing this information to WikiLeaks. You are a non-public company that has customers that are public companies. Each of these companies must now report any Conflict Materials that they use in their products. Conflict Materials are certain minerals that are mined by warlords in Africa to finance violent activities. The cost to implement a program to identify Conflict Materials is in the millions. You are not required to report Conflict Materials. Do you implement a program to identify Conflict Materials. You have a business in Connecticut that keeps personal information about its customers. Your computers have been hacked by the group Anonymous. You believe Anonymous has your customer?s information. You are not required to report the breach to your customers. You estimate that notification and potential lawsuits will cost you millions. Do you notify your customers of the breach. Requirements: 5 Pages APA Guidelines
Question 3
Hi I need assistance in reviewing and completing the attached assignment. There are 2 parts to this assignment - Please observe the 2 tabs in excel.,I look forward to your response. Please, let me know also why there was an increase in the fee. Thank you!,Observation: Please note that for Part 1 the cells highlighted in green need the correction, and Part 2 needs to be answered. Thank you!,Hi let me know when ready to take the assignment. Thank you!,ATTENTION!!! The exercises on PART 2 have changed. I will resubmit the assignment for PART 2. Thank you!!!,Hi Here is the revised homework with the new PART 2. I need a revision on PART 1 and the work on PART 2. Thank you!,1. Thank you for taking this assignment. I look forward to your solutions. 2. Please, let me know why there has been an increase in the fee? 3. For the next assignment, if possible, you and I need to schedule a day and time, preferrably on the weekend. The upcoming assignment has a time limit (3 hours) and I need to start with you at a certain time. Once I open the assignment it begins to count the time. Please, let me know. Thank you!,Hi: What I meant to say is that the minimum amount changed quiet a bit from the previous assignment to this one. I imagine it is the way the website is set up. In addition, please let me know if for the upcoming assignment we can set up a day/time to meet as I indicated before. Thank you!,Hi! You have completed PART 2 of the assignment but not PART 1. Please, revise my answers on PART 1 I know there are erros in the (green) highlighted area. I need this completed. Thank you!
Question 4
Problem 6.2 Evaluate the following scenarios, assuming both companies use the accounts receivable method of estimating bad debts expense. 1. At year-end, Vivian Company had accounts receivable of $ 12,000. The allowance for uncollectible accounts has a balance prior to adjustment of $ (600). An aging schedule prepared on December 31 indicates that $ 1,250 of Vivian?s accounts receivable is uncollectible. Net credit sales were $ 110,000 for the year. 2. At year-end, Clausen Company has accounts receivable of $ 24,800. The allowance for uncollectible accounts has a balance prior to adjustment of $ 300. An aging schedule prepared on December 31 indicates that $ 3,300 on Clausen?s accounts receivable in uncollectible. Net credit sales were $ 260,000 for the year. Required: For each situation described above, compute the following: a. The bad debts expense for the year b. The balance in the allowance for uncollectible accounts at year-end c. The net realizable value of accounts receivable at year-end d. Assuming Thompson Company had an accounts receivable balance of $ 75,000 at the beginning of the year, what is Thompson?s accounts receivable turnover ratio for the year? e. Based solely on the data provided, how many days it takes each company to collect its receivables, and which company is doing a better job of collecting its receivables. Explain your answer.
Question 5
4 points) On December 31, 2009, Colonial Corporation had the following account balances related to credit sales and receivables prior to recording adjusting entries: Required: Present the necessary year-end adjusting entry related to uncollectible accounts for each of the following independent assumptions: A. An aging of accounts receivable is completed. It is estimated that $2,150 of the receivables outstanding at year-end will be uncollectible. B. It is estimated that 1% of credit sales for the year will prove to be uncollectible. C. Assume the same information presented above except that prior to adjustment, the Allowance for Doubtful Accounts had a debit balance of $200 rather than a credit balance of $200. 23. (4 points) American Company uses the allowance method to account for uncollectible accounts. On January 1, The Allowance for Doubtful Accounts had a credit balance of $3,000. The balance in the Accounts Receivable account on that date was $75,000. On January 2, prior to any credit sales, a $500 account from National Company was deemed to be uncollectible and written off. Required: A. Compute the net realizable (A/R ? Allowance for Doubtful account) value of American's receivables on January 1. _________________ B. Present the journal entry American would record on January 2 related to the write-off of National's account. C. Compute the net realizable value of American's receivables on January 2, immediately following the write-off of National's account. _________,Okay, thank you Michael ...
